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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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May. 31, 2015
Quarterly Financial Data (Unaudited) [Abstract] |
Quarterly Financial Data (Unaudited) |
|  | Three Months Ended |  |
Fiscal 2015 |  | August 31 |  | November 30 |  | February 28 |  | May 31 |  | Full Year
Service revenue |  | $ | 656.6 |  |  | $ | 665.9 |  |  | $ | 693.6 |  |  | $ | 681.4 |  |  | $ | 2,697.5 |
Interest on funds held for clients |  | 10.2 |  |  | 10.4 |  |  | 10.7 |  |  | 10.8 |  |  | 42.1 |
Total revenue |  | $ | 666.8 |  |  | $ | 676.3 |  |  | $ | 704.3 |  |  | $ | 692.2 |  |  | $ | 2,739.6 |
Operating income |  | $ | 267.5 |  |  | $ | 270.2 |  |  | $ | 264.3 |  |  | $ | 251.6 |  |  | $ | 1,053.6 |
Investment income, net |  | 1.4 |  |  | 1.4 |  |  | 1.6 |  |  | 2.0 |  |  | 6.4 |
Income before income taxes |  | 268.9 |  |  | 271.6 |  |  | 265.9 |  |  | 253.6 |  |  | 1,060.0 |
Income taxes |  | 97.6 |  |  | 98.6 |  |  | 96.5 |  |  | 92.4 |  |  | 385.1 |
Net income |  | $ | 171.3 |  |  | $ | 173.0 |  |  | $ | 169.4 |  |  | $ | 161.2 |  |  | $ | 674.9 |
Basic earnings per share(1) |  | $ | 0.47 |  |  | $ | 0.48 |  |  | $ | 0.47 |  |  | $ | 0.44 |  |  | $ | 1.86 |
Diluted earnings per share(1) |  | $ | 0.47 |  |  | $ | 0.47 |  |  | $ | 0.46 |  |  | $ | 0.44 |  |  | $ | 1.85 |
Weighted-average common shares outstanding |  | 363.1 |  |  | 363.0 |  |  | 363.2 |  |  | 362.3 |  |  | 362.9 |
Weighted-average common shares outstanding, assuming dilution |  | 364.7 |  |  | 364.6 |  |  | 365.0 |  |  | 364.5 |  |  | 364.6 |
Cash dividends per common share |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 1.52 |
Total net realized gains(2) |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.3 |
|  | Three Months Ended |  |
Fiscal 2014 |  | August 31 |  | November 30 |  | February 28 |  | May 31 |  | Full Year
Service revenue (3) |  | $ | 603.1 |  |  | $ | 606.4 |  |  | $ | 639.9 |  |  | $ | 628.8 |  |  | $ | 2,478.2 |
Interest on funds held for clients |  | 10.0 |  |  | 10.0 |  |  | 10.5 |  |  | 10.2 |  |  | 40.7 |
Total revenue (3) |  | $ | 613.1 |  |  | $ | 616.4 |  |  | $ | 650.4 |  |  | $ | 639.0 |  |  | $ | 2,518.9 |
Operating income |  | $ | 255.1 |  |  | $ | 248.6 |  |  | $ | 250.7 |  |  | $ | 228.3 |  |  | $ | 982.7 |
Investment income, net |  | 1.2 |  |  | 1.3 |  |  | 1.5 |  |  | 1.4 |  |  | 5.4 |
Income before income taxes |  | 256.3 |  |  | 249.9 |  |  | 252.2 |  |  | 229.7 |  |  | 988.1 |
Income taxes |  | 93.5 |  |  | 91.2 |  |  | 92.1 |  |  | 83.8 |  |  | 360.6 |
Net income |  | $ | 162.8 |  |  | $ | 158.7 |  |  | $ | 160.1 |  |  | $ | 145.9 |  |  | $ | 627.5 |
Basic earnings per share(1) |  | $ | 0.45 |  |  | $ | 0.43 |  |  | $ | 0.44 |  |  | $ | 0.40 |  |  | $ | 1.72 |
Diluted earnings per share(1) |  | $ | 0.44 |  |  | $ | 0.43 |  |  | $ | 0.44 |  |  | $ | 0.40 |  |  | $ | 1.71 |
Weighted-average common shares outstanding |  | 365.3 |  |  | 364.9 |  |  | 364.2 |  |  | 363.5 |  |  | 364.5 |
Weighted-average common shares outstanding, assuming dilution |  | 366.7 |  |  | 366.4 |  |  | 365.8 |  |  | 365.3 |  |  | 366.1 |
Cash dividends per common share |  | $ | 0.35 |  |  | $ | 0.35 |  |  | $ | 0.35 |  |  | $ | 0.35 |  |  | $ | 1.40 |
Total net realized gains(2) |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 0.6 |
(1) | Each quarter is a discrete period and the sum of the four quarters’ basic and diluted earnings per share amounts may not equal the full year amount.
(2) | Total net realized gains on the combined funds held for clients and corporate investment portfolios.
(3) | With the introduction of the new health insurance offering within the PEO during fiscal 2014, the Company began classifying PEO direct costs related to certain benefit plans where the Company retains risk as operating expenses rather than as a reduction in service revenue. As a result, the amounts reported for service revenue and total revenue for the first through third quarters of fiscal 2014 differ from that reported in the Company's Quarterly Reports on Form 10-Q (“Form 10-Q”). There was no impact to operating income from this change. The correction for the PEO direct cost adjustment was not material to any prior interim period in fiscal 2014. Service revenue, as reported in the Company's Form 10-Qs was $597.9 million, $600.5 million, and $626.0 million for the first, second, and third fiscal quarters of fiscal 2014, respectively. Total revenue, as reported in the Company's Form 10-Qs was $607.9 million, $610.5 million, and $636.5 million for the first, second, and third fiscal quarters of fiscal 2014, respectively.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 + Details
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